A man must be accountable, else everything he does counts for nothing.

Thursday, August 13, 2015

The Folly of Wealth Envy

Emotions can change your life. Properly applied, they can motivate a person
to accomplish great things, to create and build and be a stunning success. Emotions can also corrode a person’s
character, however, and drag the soul into a pit of hatred and malice. This is sadly obvious when someone drives an
effort to punish other people for being successful, especially in terms of
wealth. A lot of folks miss that error,
because frankly there are not a lot of rich people compared to most of us, and
most of us have never even met a billionaire.
Even so, hating someone just because they are wealthy is morally wrong
and a big strategic mistake.

Let’s start with the guy in the photo: Warren Buffett. I chose him as an example for the following
reasons: One, I disagree with some of
his opinions on politics and business, which means I am not some devoted
sycophant. Two, he’s one of the wealthiest men in the world, so he should be an
obvious target for the people who hate the wealthy. Three, he’s been remarkably candid about how
he makes his money, and what he does with it.
Four, like almost every other billionaire, Buffett created his own
wealth; he started his first business at the age of 13 (delivering newspapers
and created a horse racing tip sheet), and worked his butt off from there. You may also want to note that Mr. Buffett is
nearly 85 years old. Like most other
billionaires, Mr. Buffett gradually built his fortune over a lifetime. So let’s stop right there and consider that
billionaires for the most part are people who have worked really hard for a
very, very long time, and they were ordinary folks when they started their work. So hating these kinds of people means hating
hard work and being careful with your money.
If you want to argue that wealth represents evil, you’re already
abandoning common sense.

Other things about Mr. Buffett that should be observed,
include the fact that he changed his jobs as he progressed, replacing the
newspaper delivery and horse race paper with stock investments, then later
buying pinball games. Buffett also
understood the value of education, attending Penn, then Nebraska, then Columbia
to study business and increase the scope of his knowledge. Finally, it should be noted that there is no
exact number for how much Mr. Buffett is worth.
This is due to several factors, including the fact that much of his
wealth is in stocks and businesses, and their fluctuations in value affect his own
worth. Which brings me to another point
that the haters miss – most wealthy people do not have all that much cash on
hand. A ‘billionaire’ is called that
because his total wealth crosses a target number, but most of the wealth is
tied up in investments and businesses; the percentage of their wealth available
to spend is usually rather small. This
is another thing about money – it is meant to be used, and can create wealth
only if it is put into motion. The people
who are worth the most, are actually among the least likely to just sit on money. The stereotype is grossly false.

Wealth is not a zero-sum competition. Farmers are a good example of how things
really work. They plant some seed after
plowing the fields, they irrigate the plants and protect them from birds and
insects, and watch carefully over the fields until it is time to harvest, then
many times the original seed is harvested in crops. Sometimes crops fail, but other times you
break records. It’s a combination of
planning, careful time management and
lots of hard work, with some good and bad luck along the way, finishing with a
lot more work to bring in the results.
But work makes wealth if you are smart and careful and do the work. Sad to say, too many people miss at least one
of those three parts of the formula. A
billionaire never kept anyone from success, any more than Bill Gates’ success
with Microsoft kept Warren Buffett from becoming a success, or Oprah Winfrey’s
success in media kept Mark Cuban from being a success as well. It’s far better to work to become a success, than
to hate someone for enjoying the rewards of their own hard work.

About Me

We make nothing of our own, even our greatest deeds are only loaned to us for our time. The sounds and glory of even the smallest storm belong to the Creator and to no man. We know only Stolen Thunder.